Implementation of an agency scheme for accepting payments for a gambling company in Curacao
One of the problems facing the opening of a gambling project is the preparation of the financial part. It is necessary to decide how payments will be made from players. In this article, you can read how to set up payment acceptance in Curacao.
Contents:
What is the agency scheme?
Agency service implies the presence of a certain representative from the company. Agent is a representative who performs certain actions on behalf of the principal. However, there are two possible options.
- The agent carries out on his own behalf, but at the expense of the principal. In this case, it is possible not to disclose the principal, and, consequently, his beneficiaries.
- The agent acts on behalf of and at the expense of the principal.
Agency scheme with a gambling company in Curacao
A gambling project can be registered in Curacao, since this is one of the most attractive regions where you can get a gambling license. Compared to other jurisdictions, the period is rather short, and the license is issued immediately for all types of gambling activities. You can read about other requirements for obtaining a license in our other article “Obtaining a gambling license in Curacao”.
By registering a company in Curacao, she becomes a principal. Then an agent is established, presumably in the country where the gambling activity will be carried out. It is worth remembering that in accordance with the Curacao regulation, it is prohibited to use the license in the USA, France, the Netherlands and some other countries.
The bank account will be opened for an agent located outside of Curacao. All payments will be accepted by this company.
Taxation in Curacao
Another reason why Curacao attracts for obtaining a gambling license is taxation. Profits are taxed and the rate is only 2%. Very low compared to other jurisdictions.
Thus, the agent scheme consists in the presence of an agent representing the principal. The agent can be registered in any state, and the principal is registered in Curacao. In this case, all payments are accepted by an agent in another jurisdiction. Curacao is suitable for registering a principal, as it has a quick and easy licensing procedure, as well as a low tax rate for income tax. Our team of A4 Law Firm lawyers will help you implement an agency scheme for gambling activities.
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